reimbursing business purchases made using personal account/credit card

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Fiona Papworth
Fiona Papworth Member Posts: 8 ✭
edited April 2020 in Reckon Accounts (Desktop)
I have made a few purchases relating to my business, through my personal credit card, as I dont have a business credit card yet. I have been trying to add these transactions as an online transaction, but it then wants account bsb and acc number of where the payment was made to. Then i tried cash/cheque, but it always lists the transaction as a cheque and assigns it a cheque number. 


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  • Sue Atkinson
    Sue Atkinson Member Posts: 26 ✭
    edited September 2016
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    Use a drawings account instead of a bank account.  You can do a journal to the expense accounts (Debit) and Credit the drawings account.  This shows that you have used your funds to pay for the exenses.  You can also pay yourself by EFT or cheque as a reimbursement of the business expenses.  The cheque is written out to you and the various expense accounts listed with their various amounts so the total is what you are owed.

    Hope that is clear for you.  Just ask again if I confused you with anything.

    Kindest Regards
  • Jacqui Allen
    Jacqui Allen Member Posts: 238 ✭✭
    edited September 2016
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    There's no reason why you cant setup a Credit Card aptly named Private CC and record each business transaction at the end of the period simply do a transfer from drawings/directors loans. This makes it easier to track record of the payment down the track.
  • DebonAir
    DebonAir Member Posts: 392 ✭
    edited May 2017
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    You can also use a Petty Cash bank account and filter all items paid other than by the business bank account through it. Or as Jacqui suggested above.  You don't need to allocate cheque numbers, we simply write cash or visa in the cheque number.  If you are not using an actual petty cash tin, then the balance in this account would be an amount that the business owes you.
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
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    Hi Fiona

    For small business I use a combination of all suggestions so far, a bank (or credit card acct) labelled either drawings (to/from) or Paid from personal accts (this covers all cash, cc, bank transactions from personal accts). 

    Personally I find the Drawings works the best, especially if you take money from business account as well, this will keep track of what you owe or what the business owes to you. Also it eliminates jnl entries as some are not comfortable doing jnl entries.  Using an account also allows you to paybills easier from a personal account.

    Either way the previously suggested label instead of chq no. of cash, cc, DD or even which bank ST.g, CBA works great for tracking which one of your personal accounts it came from.

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